Your Bronx Real Estate Attorneys
COUNTRY CLUB, KINGSBRIDGE, MORRIS PARK, RIVERDALE, WOODLAWN, AND MORE
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Our Residential Real Estate Law Services
GET A REAL ESTATE ATTORNEY ON YOUR SIDE THAT HAS HANDLED THOUSANDS OF CLOSINGS
If you’d like to buy or sell a Bronx condo, you need a Bronx real estate attorney you can trust to handle your deal.
Buy and sell your family home in the Bronx with complete confidence by working with our firm to get your deal done correctly.
Co-op buyers and sellers in the Bronx can rely on our real estate lawyers to handle the whole process and protect their interests.
Banks need to be represented in real estate deals, and our team of lawyers can handle each deal with professionalism.
Step 1: Speak With Our Real Estate Attorney
Step 2: We Work to Get Your Deal Done
Step 3: We Finish at the Closing Table
Our attorneys understand that real estate deals can be costly and time-consuming, so we work with efficiency.
We guarantee you’ll be satisfied with our work. Every real estate service we provide has been completely optimized.
We work for you, so our Bronx real estate lawyers will be with you through each step of the process.
The Smart Option For Real Estate
SOME OF THE BENFITS OF WORKING WITH OUR ATTORNEYS
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Frequently Asked Questions
SOME OF THE MOST COMMON QUESTIONS WE GET FROM CLIENTS
When purchasing a single-family, multi-family home, or condominium you MUST account for your closing costs in addition to your down-payment plus reserves. In addition to your down payment, a buyer should be ready to pay an additional f 2-5% of the purchase price. These closing costs include but are not limited to title insurance, mortgage recording tax, pre-purchased points, property tax escrow, mortgage origination fee, and attorney fee. For an approximate estimate of your closing costs, you can request a closing cost estimate. Additionally, lenders will require a borrower to have at least six (6) months of monthly mortgage payments in your account as reserves. Some lenders require twelve (12) months.
If you are financing a property, lenders typically require twenty (20%) of the purchase price as a down payment total, not including your closing costs. Meaning in most cases lenders will finance eighty percent (80%) of the purchase price. Some lenders may finance more depending on if the borrower qualifies.
Although they may look the same, co-ops, or cooperatives, and condos vary in whether the resident owns the property. In a co-op, the building is owned by a non-profit organization and residents buy shares of the company in exchange for a proprietary lease. In a condo, the unit is available for traditional purchase, giving buyers more freedom by owning the actual property.
Closing on a real estate transaction typically lasts between 30-60 days. The closing period begins when the seller accepts an offer from a buyer, and ends at the signing of all documents and agreements at the closing table. Having a real estate attorney makes this process much smoother and more efficient.
In New York State, it is required by most banks to be represented by an attorney in your real estate transactions, whether buying or selling. It’s also important to note that a good real estate attorney is another line of defense in handling real estate transactions, which carry a certain amount of risk, to protect your interests.
There are definite perks to both cash deals and mortgage loans. A cash deal may be more attractive to the seller which can often lead to a discount for the buyer. Cash also forgoes many of the steps of obtaining a loan. Mortgage loans do end up costing the buyer more in the long run due to interest but a mortgage protects the buyer from overextending.
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Here are some of our satisfied real estate clients…
Fisher Stone was excellent to work with and exceeded our expectations. Always on time, responsive, and took the time to explain all the details. Also, Fisher Stone offers great service for a reasonable price. If you are in the market to purchase a property, I recommend to use the professionals at Fisher Stone to represent you.
I have consulted the attorneys at Fisher Stone multiple times, including questions on real estate, corporate formation, and trademark law. They are knowledgeable, friendly, and easy to understand. I would recommend them 10 times out of 10.